EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 0.9675

Despite Thursday's yen-led short-covering rebound from 0.9810 to 0.9908, euro's selloff on Friday after weak EU data and renewed USD's strength to a fresh 20-year trough of 0.9669 (New York) suggests downtrend may head towards 'psychological' 0.9500 handle later this week.

the downside, only a daily close above 0.9737 would risk stronger retracement towards 0.9775 but 0.9710 should hold.

Data to be released later

New Zealand market holiday, Japan Jibun bank manufacturing PMI, Jibun bank services PMI.
Germany Ifo business cliamte, Ifo current conditions, Ifo expectations, U.S. national activity index and Dallas Fed manufacturing business index on Monday.

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AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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